Allocate, a San Francisco, CA-based digital investment platform that provides investors a streamlined way to access top-tier venture funds and co-investments, raised $15.3M in Series A funding.
The round was led by M13 with participation from Bedrock, SignalFire, and Intera Capital, and returning investors Tusk Venture Partners, Urban Innovation Fund, Fika Ventures, Anthemis, Basis Set Ventures, and Broadhaven Ventures.
The company intends to use the funds to hire new employees and launch new features in the platform that will allow co-investment, analytics, and educational webinars on investment opportunities.
Launched in late 2021 by Samir Kaji and Hana Yang, Allocate is an end-to-end platform that provides qualified investors with a streamlined way to discover, diligence, and access top fund manager strategies. The platform is specifically designed for advisors to implement private technology-focused products without the issues associated with sourcing and accessing the most promising funds.
The company’s platform works by automating product discovery, KYC and AML, subscription documents, capital calls, and investment management. As the platform aggregates investor capital into Allocate feeder vehicles, investors can invest in top opportunities at low minimums with the purchasing power of institutions, enabling them to build diversified and responsible portfolios. It also enables fund managers to access non-institutional investors without the hassle of sourcing, managing, and administering these allocations.
Launchied six months ago, Allocate has onboarded over 200 family offices and wealth advisory firms, who have allocated over $125M to products listed on the Allocate platform. The platform, which has over 600 investors on the waitlist, is now moving out of beta and is actively onboarding clients.